Brokerages expect Bank Of New York Mellon Corporation (The) (NYSE:BK) to report $0.92 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Bank Of New York Mellon Corporation (The)’s earnings. The highest EPS estimate is $0.95 and the lowest is $0.89. Bank Of New York Mellon Corporation (The) posted earnings of $0.90 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, October 19th.

On average, analysts expect that Bank Of New York Mellon Corporation (The) will report full-year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.57. For the next year, analysts expect that the business will post earnings of $3.91 per share, with EPS estimates ranging from $3.80 to $4.02. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Bank Of New York Mellon Corporation (The).

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis.

A number of research firms have recently weighed in on BK. Wells Fargo & Company initiated coverage on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Buckingham Research reissued a “neutral” rating and issued a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, September 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.25.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.97% on Thursday, reaching $54.32. 855,332 shares of the company traded hands. The firm has a market capitalization of $56.12 billion, a P/E ratio of 16.11 and a beta of 1.15. The stock has a 50-day moving average price of $52.21 and a 200 day moving average price of $49.98. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59.

Bank Of New York Mellon Corporation (The) announced that its board has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total value of $530,900,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the transaction, the insider now directly owns 455,927 shares in the company, valued at $24,597,261.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. boosted its position in shares of Bank Of New York Mellon Corporation (The) by 4.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after purchasing an additional 92 shares in the last quarter. First Interstate Bank boosted its position in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after buying an additional 842 shares in the last quarter. QCI Asset Management Inc. NY purchased a new stake in shares of Bank Of New York Mellon Corporation (The) in the 1st quarter worth about $125,000. Exane Derivatives purchased a new stake in shares of Bank Of New York Mellon Corporation (The) in the 2nd quarter worth about $130,000. Finally, Hudock Capital Group LLC boosted its position in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after buying an additional 7 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors.

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Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Earnings History and Estimates for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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